1.
(TCO
1) George Corporation has an estimated monthly sales of 12,000 units
for $80 per unit. Variable costs include manufacturing costs of $50 and
distribution costs of $20. Fixed costs are $60,000 per month.
Required:
Determine each of the following values.
a. Unit contribution margin
b. Monthly break-even unit sales volume
Create a contribution margin-based income statement.
(Points : 30) 2.
(TCO
7) Darling Manufacturing Inc. manufactures two products, A and B, from a
joint process. A single production costs $5,000 and results in 200
units of A and 800 units of B. To be ready for sale, both products must
be processed further, incurring seperable costs of $3 per unit for A and
$4 per unit for B. The market price for Product A is $15 and for
Product B is $10.
Required: Allocate joint production costs to each product using the net realizable value method.
(Points : 30)
3.(TCO 6) Santa Inc. manufactures toys based on the following information.
Standard costs
Materials (4 ounces at $4)
$16
Direct labor (1 hour per unit)
$7
Variable overhead (based on direct labor hours)
$3.50
Fixed overhead budget
$16,000
Actual results and costs
Materials purchased
Units
10,000
Cost
$38,500
Materials used in production
Finished product units
2,200
Raw material (ounces)
9,500
Direct labor hours
2,200
Direct labor cost
$18,000
Variable overhead costs
$8,400
Fixed overhead costs
$16,200
Required:
Compute the following variances (show calculations).
a. Materials usage variance
b. Labor rate variance
-c. Fixed overhead budget variance
(Points : 30)
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